Location: Sussex County, DE | Metro: Sussex County, DE
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,360 |
| 5 Bedrooms | $2,738 |
| 6 Bedrooms | $3,067 |
| 7 Bedrooms | $3,312 |
| 8 Bedrooms | $3,478 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,960 | $354,823 | 0.55% | F |
| 4BR | $2,360 | $451,673 | 0.52% | F |
U.S. Census Bureau data (2024)
16.8% of the population in ZIP 19960 are renters, indicating a moderate demand for rental properties in the area. The $1,288 market rent figure from the Census ACS provides a benchmark for what tenants are currently paying, which is slightly below the $1290 Fair Market Rent (FMR) set for zip code 19960 for fiscal year 2024. This suggests that landlords can potentially increase rents to meet the FMR without significantly deterring tenants.
$351,030 is the median home value in the area, reflecting a stable housing market where property values have remained consistent over recent years. Given the $67,200 median income, many residents may find it challenging to purchase homes outright, thereby supporting continued demand for rentals.
The 0.2% price-cut share reveals that very few listings are being discounted, implying that the rental market is competitive and that landlords who maintain their properties and offer desirable amenities can command higher rents.
In ZIP 19960, the absence of a specified average days on market (DOM) indicates either a robust leasing process or limited data available on this metric. However, the low price-cut share suggests that once listed, properties are likely to be leased quickly at or near the asking price.
To summarize, the rental market in ZIP 19960 is poised for steady returns. With a moderate renter share and a slight gap between current market rents and the FMR, there is an opportunity for landlords to adjust their pricing. The high median home value relative to median income supports a strong rental sector. Lastly, the negligible price-cut share signals a healthy market where well-maintained properties can attract tenants without needing to lower the rent.
Verdict: ZIP 19960 is a viable market for Section 8 investments, given the alignment with FMR and the supportive economic indicators.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.